Mumbai: Artha Venture Fund, a micro venture capital fund, has made a second close of ₹100 crore for its debut venture capital fund, said a senior executive of the fund.
In July 2018, Artha made the first close of its fund at ₹40 crore.
A close of a private equity or venture capital fund is a milestone which allows it to start investing the capital raised, while continuing to raise funds from more investors.
“Artha Venture Fund’s hands-on-investment style is a mix of western ethics and Indian pragmatism," said Anirudh Damani, managing partner, Artha Venture Fund.
The fund typically invests ₹1-2 crore as seed investment and reserves another ₹10-15 crore for follow-on investments, maintaining a 1:10 ratio for follow-on investments.